Key Points
- CFO Jack Anders sold 35,750 Revolution Medicines shares at an average of $188.10, totaling about $6.72 million. After the sale, he owned 119,216 shares, a 23.07% reduction in his position.
- RVMD shares fell 2.3% to $172.29 in Friday mid-day trading. The company reported quarterly EPS of -$1.90, beating the -$2.35 analyst consensus, and revenue of $197.56 million.
- Analysts’ average rating was “Moderate Buy,” with a consensus price target of $262.75; institutional investors owned 94.34% of the stock.
Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) CFO Jack Anders sold 35,750 shares of the firm's stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $188.10, for a total transaction of $6,724,575.00. Following the completion of the transaction, the chief financial officer owned 119,216 shares in the company, valued at $22,424,529.60. This represents a 23.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Jack Anders also recently made the following trade(s):
- On Wednesday, September 16th, Jack Anders sold 4,053 shares of Revolution Medicines stock. The stock was sold at an average price of $199.24, for a total transaction of $807,519.72.
Revolution Medicines Trading Down 2.3%
Shares of NASDAQ RVMD traded down $4.06 during mid-day trading on Friday, hitting $172.29. The stock had a trading volume of 2,654,066 shares, compared to its average volume of 2,385,159. The company has a debt-to-equity ratio of 0.44, a quick ratio of 8.34 and a current ratio of 8.36. Revolution Medicines, Inc. has a 1 year low of $63.50 and a 1 year high of $224.31. The business has a 50 day moving average price of $194.46 and a two-hundred day moving average price of $159.42. The firm has a market cap of $37.26 billion, a P/E ratio of -18.91 and a beta of 1.44.
Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The company reported ($1.90) EPS for the quarter, beating analysts' consensus estimates of ($2.35) by $0.45. The firm had revenue of $197.56 million for the quarter, compared to the consensus estimate of $25.58 million. During the same quarter in the prior year, the company earned ($1.61) earnings per share. On average, equities analysts anticipate that Revolution Medicines, Inc. will post -7.41 EPS for the current fiscal year.
Hedge Funds Weigh In On Revolution Medicines
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Alphabet Inc. purchased a new stake in Revolution Medicines in the second quarter worth $551,843,000. Assenagon Asset Management S.A. boosted its holdings in Revolution Medicines by 987.9% in the third quarter. Assenagon Asset Management S.A. now owns 2,181,185 shares of the company's stock valued at $447,710,000 after acquiring an additional 1,980,699 shares in the last quarter. ABS Investment Management LLC purchased a new position in Revolution Medicines during the 2nd quarter valued at $337,104,000. Winslow Capital Management LLC purchased a new position in Revolution Medicines during the 3rd quarter valued at $260,191,000. Finally, Bank of America Corp DE purchased a new position in Revolution Medicines during the 2nd quarter valued at $184,267,000. Institutional investors own 94.34% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have issued reports on RVMD. HC Wainwright boosted their price objective on shares of Revolution Medicines from $280.00 to $350.00 and gave the company a "buy" rating in a research report on Friday, November 6th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $248.00 price objective on shares of Revolution Medicines in a research note on Thursday, August 27th. Guggenheim increased their target price on shares of Revolution Medicines from $275.00 to $298.00 and gave the stock a "buy" rating in a report on Thursday, November 5th. Royal Bank Of Canada raised their target price on Revolution Medicines from $260.00 to $321.00 and gave the stock an "outperform" rating in a research note on Thursday, November 5th. Finally, Wolfe Research reissued an "outperform" rating and issued a $220.00 target price on shares of Revolution Medicines in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $262.75.
Check Out Our Latest Research Report on RVMD
Revolution Medicines Company Profile
(
Get Free Report)
Revolution Medicines, Inc. is a biotechnology company focused on developing targeted therapies for patients with RAS-driven cancers. Founded in 2014 and headquartered in Redwood City, California, the company's research centers on RAS proteins, which can contribute to the growth of many cancers. The company's pipeline includes drug candidates designed to inhibit mutant RAS proteins, including daraxonrasib (RMC-6236), which targets multiple RAS variants, and candidates directed at specific KRAS mutations.
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